Katz points out this is an “extreme example to prove a point.” YellowHeart wants to show people how much control can be put into the ticket with smart contracts. Upon leaving the show, the fan’s car will have four bags filled with every item from the merch booth. The token owner also gets a VIP experience that includes a personal driver, a concierge at the show to take care of their needs, a hangout with the band before the show, and exclusive lounge access. Whoever owns the token is guaranteed four front-row seats to any Kings of Leon concert during each tour for life. “Each one of those is a unique NFT with the most incredible Kings of Leon art you’ve ever seen,” explains Katz.Įach “golden ticket” also unlocks an actual concert ticket - marking the first time a music ticket has been officially sold as an NFT. Out of the 18, the band will auction six and vault the other 12 like a painter would do with a rare piece from a series of art. YellowHeart is minting 18 unique-looking “golden tickets” as part of the Kings of Leon NFT release. Previously, it cost $20 to go get one song.” He believes streaming’s subscription-based pro rata model irreparably hurts artists, and NFTs will make modern fans want to own music again: “It’s early stages, but in the future, I think this will be how people release their tracks: When they sell a 100,000 at a dollar each, then they just made $100,000.” There’s been a race to the bottom where, for as little money as possible, you have access to all of it. “Music has become great at selling everything except music. “Over the last 20 years - two lost decades - we’ve seen the devaluation of music,” Katz tells Rolling Stone. After that time, no more will be made, and the NFT becomes a tradable collectible. The sale of the album NFTs opens on Friday at 12 p.m. The token, priced at $50, includes enhanced media - kind of like an alternate, moving album cover - as well as a digital download of the music, and limited-edition vinyl. Kings of Leon’s album will be released everywhere albums are released - Spotify, iTunes, Apple Music, Amazon - but the NFT version available on YellowHeart will be the only product with special perks. The Man, Katz offers consulting services through YellowHeart to educate artists about blockchain and create their NFTs. As was the case with both Kings of Leon and Portugal.

Shortly after YellowHeart first formed in 2018, the company garnered industry interest for crypto’s possibilities in ticketing, but founder and CEO Josh Katz says that’s just one facet.

The Man, Shawn Mendes, Grimes, and Linkin Park’s Mike Shinoda have gotten on board in recent weeks. But these digital tokens have gone mainstream in the last year, as many musicians sought out additional revenue streams in the concertless era of the pandemic. NFTs previously had a a relatively underground following made up of DJs and producers.

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